Brokers

Brokers Issue Forecasts for Cyxtera Technologies, Inc.’s FY2022 Earnings (NASDAQ:CYXT)

Cyxtera Technologies, Inc. (NASDAQ:CYXTGet Rating) – Stock analysts at William Blair lowered their FY2022 earnings per share (EPS) estimates for Cyxtera Technologies in a report released on Tuesday, November 8th. William Blair analyst J. Breen now expects that the company will earn ($1.03) per share for the year, down from their previous estimate of ($0.93). The consensus estimate for Cyxtera Technologies’ current full-year earnings is ($0.90) per share. William Blair also issued estimates for Cyxtera Technologies’ Q4 2022 earnings at ($0.22) EPS and FY2023 earnings at ($0.79) EPS.

Cyxtera Technologies (NASDAQ:CYXTGet Rating) last released its earnings results on Thursday, August 11th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.08). Cyxtera Technologies had a negative net margin of 28.78% and a negative return on equity of 28.82%. The company had revenue of $184.10 million during the quarter, compared to analyst estimates of $185.00 million. During the same period in the previous year, the company posted ($0.88) EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year.

Several other equities analysts have also weighed in on the company. UBS Group cut their target price on Cyxtera Technologies from $14.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial lowered their price target on Cyxtera Technologies from $20.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, September 20th. Citigroup upgraded Cyxtera Technologies from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, August 24th. Raymond James lowered their price target on Cyxtera Technologies from $13.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Credit Suisse Group lowered their price target on Cyxtera Technologies to $6.00 in a report on Thursday, October 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Cyxtera Technologies Trading Up 18.1 %

NASDAQ:CYXT opened at $2.48 on Friday. Cyxtera Technologies has a 1-year low of $2.08 and a 1-year high of $15.42. The business’s 50-day moving average price is $3.80 and its two-hundred day moving average price is $9.07. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.41 and a quick ratio of 0.41.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. CoreCap Advisors LLC bought a new position in shares of Cyxtera Technologies during the second quarter worth about $31,000. Point72 Hong Kong Ltd bought a new position in shares of Cyxtera Technologies during the second quarter worth about $35,000. Exchange Traded Concepts LLC bought a new position in shares of Cyxtera Technologies during the third quarter worth about $30,000. Strs Ohio bought a new position in shares of Cyxtera Technologies during the second quarter worth about $112,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Cyxtera Technologies during the third quarter worth about $44,000.

About Cyxtera Technologies

(Get Rating)

Cyxtera Technologies, Inc provides various data center products and services for enterprises, service providers, and government agencies. It offers retail colocation, interconnection, deployment, and support services; and Bare Metal, an on-demand IT infrastructure solution. The company is headquartered in Coral Gables, Florida.

Further Reading

Earnings History and Estimates for Cyxtera Technologies (NASDAQ:CYXT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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